By The MTN Group has granted third parties access to its Mobile Money (MoMo) Access Programming Interface (API) platform. The decision is in pursuit of its goal to contribute to bridging the financial divide, the company said in statement.
The open API enables developers and programmers to innovate on the platform and develop products and other solutions that will create a wider range of digital financial offerings for MTN’s customers.
To further foster innovation and enhance financial inclusion, MTN is inviting developers and entrepreneurs, across five countries, to participate in the MoMo API Hackathon.
The Hackathon, run in partnership with Ericsson (MTN’s MoMo technology partner), will give app developers based in Ghana, Uganda, Cote d’Ivoire, Cameroon and Zambia the opportunity to create innovative financial and transactional applications using the MTN MoMo API platform.
“Enhancing financial inclusion through digital technology is an essential element in supporting the continent’s realisation of some of the United Nation’s Sustainable Development Goals. We also see this as an opportunity for more tech developers, entrepreneurs and businesses to work with us in bridging the financial divide, whilst also creating ample opportunities for themselves,” said Serigne Dioum, MTN Group Executive for Mobile Financial Services.
This Hackathon further illustrates the essence of the company’s ‘We’re Good Together’ initiative, which celebrates the role that collaboration can play in ensuring that more people enjoy the benefits of a modern connected life.
The range of solutions to narrow the financial services gap can only be achieved through various partnerships with entrepreneurs, developers, financial services providers, regulatory authorities, other mobile network operators, merchants, distributors, businesses and technology providers.
According to telecommunications company, developers are required to create a mobile application that uses MTN MoMo APIs, the mobile application needs to target consumers, merchants or businesses.
The company stated that the application must be useful and usable in the market where the applicants have registered and can cover use cases beyond payment but must utilise MTN MoMo APIs adding that MTN/Ericsson in each country will select 12 applicants.
The statement added that the preselected applicants will have two weeks to develop their ideas adding that rhe preselected applicants will need to make a live demo of their application submission.
Finalists stand the chance to win up to $2,500 and one team member will win a trip to Ericsson’s Innovation Lab in Sweden.
Hackathon participants can submit their applications online here.
